Insider Selling: Aveanna Healthcare (NASDAQ:AVAH) Major Shareholder Sells $24,030,000.00 in Stock

Key Points

• Major shareholder Paul Vigano sold 3.0 million shares of Aveanna Healthcare at an average price of $8.01, for total proceeds of about $24.03 million. After the sale, his stake dropped by 94.04% to 190,130 shares.
• Despite the insider sale, AVAH shares rose 3.7% in trading to $9.19, near the stock’s 52-week high of $10.32. The company also has a market cap of about $2.0 billion.
• Aveanna recently reported better-than-expected quarterly results, with EPS of $0.18 versus estimates of $0.13 and revenue of $647.9 million versus $613.2 million expected. Analysts currently rate the stock Moderate Buy with a consensus price target of $10.50.

Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH - Get Free Report) major shareholder Paul Vigano sold 3,000,000 shares of the stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $8.01, for a total value of $24,030,000.00. Following the completion of the sale, the insider owned 190,130 shares of the company's stock, valued at approximately $1,522,941.30. This trade represents a 94.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Major shareholders that own 10% or more of a company's stock are required to disclose their sales and purchases with the SEC.

Aveanna Healthcare Trading Up 3.7%

Shares of AVAH traded up $0.33 during mid-day trading on Thursday, hitting $9.19. 1,002,532 shares of the company's stock traded hands, compared to its average volume of 1,480,237. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 5.35. Aveanna Healthcare Holdings Inc. has a 1 year low of $3.73 and a 1 year high of $10.32. The firm has a market capitalization of $2.00 billion, a P/E ratio of 7.78, a PEG ratio of 0.88 and a beta of 1.89. The business's 50-day moving average price is $7.25 and its 200-day moving average price is $7.56.

Aveanna Healthcare (NASDAQ:AVAH - Get Free Report) last announced its quarterly earnings results on Thursday, May 14th. The company reported $0.18 EPS for the quarter, topping analysts' consensus estimates of $0.13 by $0.05. The company had revenue of $647.91 million during the quarter, compared to analyst estimates of $613.22 million. Aveanna Healthcare had a return on equity of 124.68% and a net margin of 10.37%.The company's revenue was up 15.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Aveanna Healthcare Holdings Inc. will post 0.65 EPS for the current fiscal year.

Hedge Funds Weigh In On Aveanna Healthcare

Institutional investors and hedge funds have recently made changes to their positions in the business. Dynamic Technology Lab Private Ltd boosted its position in shares of Aveanna Healthcare by 8.9% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 14,149 shares of the company's stock worth $126,000 after purchasing an additional 1,151 shares in the last quarter. Barclays PLC raised its stake in Aveanna Healthcare by 0.8% during the third quarter. Barclays PLC now owns 179,359 shares of the company's stock valued at $1,591,000 after buying an additional 1,366 shares during the last quarter. Franklin Resources Inc. boosted its holdings in Aveanna Healthcare by 4.5% in the third quarter. Franklin Resources Inc. now owns 35,630 shares of the company's stock worth $316,000 after acquiring an additional 1,528 shares in the last quarter. Intech Investment Management LLC boosted its holdings in Aveanna Healthcare by 9.8% in the fourth quarter. Intech Investment Management LLC now owns 19,483 shares of the company's stock worth $159,000 after acquiring an additional 1,739 shares in the last quarter. Finally, Balboa Wealth Partners grew its stake in shares of Aveanna Healthcare by 13.5% in the fourth quarter. Balboa Wealth Partners now owns 16,890 shares of the company's stock worth $138,000 after acquiring an additional 2,007 shares during the last quarter. Institutional investors own 87.96% of the company's stock.

Analyst Upgrades and Downgrades

AVAH has been the topic of several research analyst reports. Royal Bank Of Canada upgraded shares of Aveanna Healthcare from a "sector perform" rating to an "outperform" rating and set a $10.00 price target on the stock in a research report on Wednesday, June 3rd. Barclays reduced their target price on Aveanna Healthcare from $9.50 to $9.00 and set an "overweight" rating on the stock in a report on Monday, May 18th. Stephens raised Aveanna Healthcare from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $10.00 to $11.00 in a research report on Friday, May 15th. BMO Capital Markets dropped their price target on Aveanna Healthcare from $11.00 to $10.00 and set an "outperform" rating on the stock in a research report on Friday, March 20th. Finally, Truist Financial upped their price target on Aveanna Healthcare from $8.00 to $9.00 and gave the stock a "hold" rating in a research note on Wednesday, May 20th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, Aveanna Healthcare currently has an average rating of "Moderate Buy" and a consensus price target of $10.50.

About Aveanna Healthcare

Aveanna Healthcare, Inc NASDAQ: AVAH is a national provider of in-home health care services, specializing in pediatric skilled nursing, therapy, and related support for medically complex and chronically ill children. The company delivers a range of clinical and therapeutic solutions designed to enable patients to receive care in the comfort of their own homes, reducing the need for hospital stays and long-term institutional care. Aveanna's offerings include registered nursing, physical, occupational and speech therapy, behavioral health counseling, and durable medical equipment coordination.

In addition to pediatric home health services, Aveanna operates adult home health and personal care support programs, assisting elderly and disabled adults with daily living activities, medication management, and rehabilitation therapies.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.